Pune, Jan. 13, 2020 (GLOBE NEWSWIRE) -- The global Recombinant Vaccines Market size is projected to reach USD 21.00 billion by the end of 2026. The advancements in molecular genomics have opened up a huge potential for market growth. According to a report by Fortune Business Insights, titled “Recombinant Vaccines Market Size, Share & Industry Analysis, By Type (Subunit and Live Attenuated), By Route of Administration (Parenteral and Oral), By Disease Indication (Human Papillomavirus, Hepatitis B, Rotavirus, Herpes Zoster, Meningococcal B, and Others), By Distribution Channel (Hospital & Retail Pharmacies, Government Suppliers and Others) and Geography Forecast, 2019-2026,” the market size was USD 8.97 billion in 2018. Driven by increasing number of regulatory approvals, the market will exhibit a CAGR of 11.3% during the forecast period, 2019-2026.
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Recombinant vaccines are used for the treatment of several critical diseases. The increasing investment in the research and development of newer vaccines will aid the growth of the market in the coming years. This vaccine is developed with the help of the recombinant DNA technology. The benefits offered by these products have allowed treatment of several diseases. Launch of novel recombinant vaccines, coupled with the high efficacy of recombinant vaccines will add to the growing demand for the product. The immunogenic protein associated with these vaccines have allowed applications across diverse domains. Several critical vaccines such as HBV and hepatitis B vaccines are manufactured through the recombinant DNA technology. The growing adoption of these products will have a direct impact on the growth of the market in the coming years.
The report offers insights into the ongoing recombinant vaccine market trends. The report provides forecast values for the market for the period of 2019-2026. It highlights leading companies in the market and discusses the strategies that these companies have adopted in recent years. The competitive landscape scenario has been discussed in detail. Factual figures have been evaluated through trusted sources. Other forecast values have been gathered through interviews and opinions of experienced market research professionals.
Increasing Number of Regulatory Approvals Will Aid Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the increasing number of regulatory clearances have made the highest impact on the market in recent years. In December 2019, Merck received approval from the US Food and Drug Administration for a new vaccine. The ERVEBO was the first ever Ebola vaccine. The approval for ERVEBO will encourage several manufacturers. In October 2017, the USFDA approved GlaxoSmithKline’s new vaccine SHINGRIX which is used for the treatment of herpes zoster. The report highlights the importance of these vaccines on the global market. The report includes a few of the other drug approvals of recent years and gauges their impact on the market.
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North America to Emerge Dominant; Emphasis on Product R&D to Aid Growth
The report offers insights into the ongoing recombinant vaccine market trends across North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, North America is likely to emerge dominant in the coming years. The demand for recombinant vaccines has risen dramatically across this region, due to the efficacy provided by the recombinant vaccines in treating complex viral diseases. As of 2018, the market in North America was worth USD 4.12 billion in 2018 and this value is likely to increase further in the coming years. Besides North America, Europe will witness considerable growth due to lesser adoption of immunization policies in under-developed European countries.
List of the leading companies that are operating in the global Recombinant Vaccines Market are:
- GlaxoSmithKline plc.
- Merck & Co., Inc
- Pfizer Inc
- Dynavax Technologies
- Sanofi
- Serum Institute of India Pvt. Ltd
- Novartis AG
- Other Prominent Players
December 2019: Merck received USFDA approval for ERVEBO, the first Ebola vaccine. Ervebo is a recombinant viral vaccine that is recommended for the treatment of zaire ebolavirus.
October 2017: USFDA approved GlaxoSmithKline’s new vaccine SHINGRIX which is used for the treatment of herpes zoster.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- New Product Launch
- Pipeline Analysis
- Technological Advancements in the Recombinant Vaccines Market
- Prevalence of Key Diseases- For Key Countries, 2018
- Key Industry Developments - Mergers, Acquisitions, and Partnerships
- Global Recombinant Vaccines Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Subunit
- Live Attenuated
- Market Analysis, Insights and Forecast – By Route of Administration
- Parenteral
- Oral
- Market Analysis, Insights and Forecast – By Disease Indication
- Human Papillomavirus
- Hepatitis B
- Rotavirus
- Herpes Zoster
- Meningococcal B
- Others
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital & Retail Pharmacies
- Government Suppliers
- Others
- Market Analysis, Insights and Forecast – By Geography
- North America
- Europe
- Asia pacific
- Latin America
- Middle East & Africa
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